Corcept Therapeutics Incorporated (NASDAQ:CORT) Director Sells $2,030,338.96 in Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) Director David L. Mahoney sold 27,352 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $74.23, for a total value of $2,030,338.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Corcept Therapeutics Stock Performance

Corcept Therapeutics stock opened at $76.09 on Friday. Corcept Therapeutics Incorporated has a 12-month low of $27.30 and a 12-month high of $117.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.70 and a quick ratio of 3.64. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 60.39 and a beta of 0.22. The firm’s fifty day moving average price is $70.15 and its 200 day moving average price is $62.38.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Monday, May 5th. The biotechnology company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Corcept Therapeutics had a return on equity of 24.54% and a net margin of 22.35%. The company had revenue of $157.21 million during the quarter, compared to the consensus estimate of $177.93 million. During the same period last year, the firm earned $0.25 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, research analysts forecast that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on CORT. Piper Sandler lifted their price target on shares of Corcept Therapeutics from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, April 3rd. HC Wainwright lowered their price target on Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Wall Street Zen cut Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Truist Financial set a $135.00 target price on Corcept Therapeutics in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group raised their target price on Corcept Therapeutics from $130.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.25.

Institutional Investors Weigh In On Corcept Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC grew its position in shares of Corcept Therapeutics by 45.4% during the first quarter. Acadian Asset Management LLC now owns 166,490 shares of the biotechnology company’s stock worth $19,011,000 after buying an additional 52,000 shares in the last quarter. Intech Investment Management LLC boosted its stake in Corcept Therapeutics by 28.1% during the 1st quarter. Intech Investment Management LLC now owns 66,735 shares of the biotechnology company’s stock valued at $7,622,000 after acquiring an additional 14,628 shares during the last quarter. Focus Partners Wealth grew its holdings in Corcept Therapeutics by 0.5% during the 1st quarter. Focus Partners Wealth now owns 33,243 shares of the biotechnology company’s stock worth $3,797,000 after acquiring an additional 170 shares in the last quarter. Bayforest Capital Ltd increased its position in shares of Corcept Therapeutics by 422.3% in the 1st quarter. Bayforest Capital Ltd now owns 7,098 shares of the biotechnology company’s stock worth $811,000 after purchasing an additional 5,739 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Corcept Therapeutics by 198.1% in the 1st quarter. Empowered Funds LLC now owns 122,345 shares of the biotechnology company’s stock worth $13,974,000 after purchasing an additional 81,297 shares during the last quarter. Institutional investors and hedge funds own 93.61% of the company’s stock.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.